Sample questions relating to Honiton leasehold conveyancing
My partner and I may need to rent out our Honiton garden flat temporarily due to a career opportunity. We used a Honiton conveyancing firm in 2001 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
Some leases for properties in Honiton do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I am looking at a couple of apartments in Honiton which have approximately 50 years left on the lease term. Do I need to be concerned?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena
Last month I purchased a leasehold flat in Honiton. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you provide any top tips for leasehold conveyancing in Honiton from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Honiton can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives.
- In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Honiton state that internal structural changes or installing wooden flooring require a licence issued by the Landlord approving such changes. Should you dont have the approvals to hand do not contact the landlord without checking with your solicitor before hand.
If all goes to plan we aim to complete the disposal of our £450000 maisonette in Honiton next Wednesday . The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Honiton?
Honiton conveyancing on leasehold flats nine out of ten times involves fees being levied by freeholders :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Honiton
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I invested in buying a 1 bedroom flat in Honiton, conveyancing having been completed 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Honiton with over 90 years remaining are worth £262,000. The average or mid-range amount of ground rent is £55 yearly. The lease comes to an end on 21st October 2090
You have 66 years remaining on your lease the likely cost is going to be between £13,300 and £15,400 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
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